Be frugal

Austerity begets capital; capital endows investments; investments beget wealth. On the other hand, spending begets impecuniosity. A dollar spent is a dollar not invested — and one step further away from financial independence.

Wealthy individuals appreciate that spending money is more expensive than the dollar itself: when you spend a dollar, you lose the profit had that dollar been invested, reinvested, and compounded; also, you must spend time to re-earn that dollar, just to regain your balance before spending it.

For this reason, wealthy people are frugal. If you find wealthy people who aren’t, they won’t be wealthy for long.